Mongolia's inflation rate climbs to 9.6 pct in January

Mongolia's inflation rate, as measured by the Consumer Price Index (CPI), rose to 9.6 percent in January, up from 9.0 percent in December 2024, local media reported on Thursday, citing official data by the country's National Statistics Office (NSO).

This represents a 2.0 percentage-point rise compared to the same period last year, the NSO noted. The increase in inflation was primarily driven by higher prices for imported goods, particularly food products, according to the statistical agency.

Mongolia's consumer goods and services basket comprises 410 items, with over half of them being imported, the NSO said.

Despite the recent inflationary pressures, the government remains optimistic about the country's economic outlook and has forecast an inflation rate of around 7.2 percent for 2025.

Related Business News

Gold hits Rs 1 lakh per 10 grams for the first time

Gold prices soared to an all-time high on Tuesday, with the rate of 24-carat gold touching Rs 1,00,000 per 10 grams for the first time ever. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold surged sharply from Rs 96,670 to Rs 1,00,000 per 10 grams &md....

Dhenkanal: Two killed in Rungta Steel Plant mishap

DHENKANAL:Two labourers died and three others injured in an accident occured in Rungta Steel Plant at Jharabandha here today.The deceased has been identified as Jitendra Behera and Purandar Pradhan of village Antabila in Dhenkanal district. According to informed sources, there was an erection work u....

Tensions Between China And US Escalates As Trump Further Imposes 245% Tariff

The tariff war between the US and China continues. Tensions between the two nations have escalated further after the US imposed a 245% tariff on Chinese goods. Meanwhile, China has responded to the tariffs imposed by the US. According to a Reuters report, China stated that if the US continues this t....

Gold Nears ?1 Lakh per 10 Grams!

Gold prices continue to surge, hitting a new all-time high on Wednesday. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold rose by ?1,477 per 10 grams in the last 24 hours. As per IBJA, the price of 24-carat gold increased by ?1,477 to ?94,579 per 10 g....

People Of India Are being Looted By Govt, Emptying People's Pockets: Congress

By Jagadananda Pradhan (Fast Mail News):-- The Congress party has accused the government of "looting" people by increasing excise duty on petrol and diesel demanding an audit by the CAG as to how government policies benefited private companies. Congress general secretary in-charge com....